Beijing is imposing duties of up to 34.9% on European brandy imports starting July 5 for five years. The major French cognac producers Remy Cointreau, Pernod Ricard, and LVMH’s Hennessy will be exempt from the duties if they export spirits above a certain price threshold. This is below the provisional rate of up to 39% applied since October. Industry group spiritsEUROPE warned that these measures could still pose a significant barrier to legitimate trade.
Source: https://www.politico.eu/article/china-spares-major-eu-cognac-makers-in-trade-war